Making MoneyOnline Entrepreneurship

Burnt Out? How to Monetize Your Passions and Actually Enjoy Your Biz

In 2016 I was exhausted and, it seemed, terminally irritable.

The wardrobe styling business I had created for myself after my second corporate lay-off had become the bane of my existence.

Okay, maybe that’s a tad dramatic. But, honestly, I couldn’t talk about clothes anymore … or wardrobe edits, or body types, or any of it.

Not only was I irritable, I felt horribly guilty. See, I had built a following of women who felt as if they finally found someone in fashion who understood them. My audience and I bonded over discovering our true style – not what “big fashion” told us to wear. We were proud rebels.

But, about a year earlier, I had begun to feel restless.

I loved fashion – still do! But there was something missing, and I felt as though wardrobe styling just didn’t adequately express who I was and what I was capable of. To limit myself to just fashion felt so constricting, but I ignored it …

Until I couldn’t anymore.

What I didn’t realize at the time was that not everyone is meant to have a singular purpose in their career. And, boy, did I envy those that did. I looked around the solopreneur landscape at dedicated life coaches and money mindset coaches and other wardrobe stylists who seemed to #killingit and would think to myself:

“Why can’t I be like her, and just stick to something?”

Thankfully, somewhere along the way I realized that my mind just doesn’t function like that – and, to expect it to was unnecessary torture.

As a coach I hear it from Multipassionate Entrepreneurs all the time:

“I don’t know what to do with my business, I feel like I’m all over the place!”

If you’re feeling like this, I want you to know that this is actually a great problem to have because it means you have a giant cache of talents, skills, and information stored in your brain – ready to be monetized! You just need to figure out how.

Let’s do that now.

First, you’re going to set aside some time to journal about your interest, talents, and skills. By journaling all of this out, we can get a good overview of all the assets you have at your disposal.

I must stress how important it is for you to list EVERYTHING that comes to mind for each of the categories.

There are 3 things you need to sit down and journal on:

Your Interests

  • What are you so fascinated with that you could binge-learn on the subject anytime, anyplace? Do you like documentaries? What have been some documentaries that you’ve watched within the last year?
  • If you had a week to yourself, with no distractions (no kids, no spouse, no Facebook or Instagram), what would you spend all day and all night researching on the Internet, Pinterest, etc.? Interior design, fashion, marketing, history? Hint: the History search channel on Pinterest is a giant click hole.
  • What do you already have an established base of knowledge in because you’ve already spent hours researching? What have you spent time learning?
  • Could you possibly teach someone how to do something based on the knowledge you have? Even if you’re not the “premiere expert” on the subject, could you still sit down with someone and teach them about this subject or how to do something? Really search your brain for this – often we know things, but we’ve forgotten.

Your Skills

  • What do you enjoy doing? What tasks do you always do first because you enjoy them?
  • What do you enjoy doing for others? What are you the best at – better than your friends?
  • What do you have degrees, certifications, and training in? List everything.

Your Talents

  • What do you get so wrapped up in doing that you completely lose track of time?
  • What do people compliment you on?
  • What could you “play” in for hours?

 


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The most important thing here is that you actually do these journaling exercises if you’re feeling burnt out and not sure how to proceed in your business. Often, the best thing you can do is take a “back to basics” approach internally. It doesn’t mean that, to the rest of the outside world, you need to look like you’re starting over. But you probably do need to do something to reset where your head’s at right now.

Once you do that, you want to distill down your answers to simple concepts like: marketing, fashion, cooking, parenting, designing, coaching. See what themes come up over and over and note what has the most weight for you.

The next thing you should consider are the 3 ways to monetize your passions, they are:

  1. Services – you provide coaching, consulting, or some other professional service that produces a result or somehow provides value to your client or clients.
  2. Products – you provide products, digital or physical.
  3. Advertising/Affiliates – you either leverage an existing audience to funnel exposure to an advertiser that has already paid you a fee for advertising, or you sell someone else’s product for a commission. (Note: this is a good option for entrepreneurs who already have a decent following and subscriber base.)

Most Multipassionate Entrepreneurs will monetize using at least 2 of the above ways – which is a good idea, because you never want to have all your income coming from just a single source.

Take the concepts you listed above and ask what can be monetized and how? The key here is problem-solving, not just applying your skills. So, if you listed something like parenting and coaching, ask what problem you’re solving how it can be monetized in all three ways: services, products, and advertising/affiliates.

Example:

Problem: working mothers who feel overly stressed, at their wit’s end, with poorly-behaved kids.

Service Idea: “Mothers with Boundaries Intensive” – coach a mom on reestablishing and asserting herself with her children and domestic partner. Provide her with half a day of coaching, and when she walks away, she’ll have specific strategies for getting her time and sanity back.

Product Idea: “You’re the Boss, Mom!” eBook – create a digital guide with your favorite strategies for helping mothers regain their authority in their families.

Advertising/Affiliate Idea: You can’t be the only coach out there for moms! Find other coaches who offer programs for moms and become an affiliate for the ones you trust and admire.